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The talks come as auto manufacturers from Stuttgart to Seoul have been angered by Biden's $430 billion "Inflation Reduction Act", enacted in August and aimed at rolling back climate change and making Washington a world leader in the electric vehicle (EV) market.

The first outcomes from the partnership between Volkswagen's software unit Cariad and Bosch, announced in January this year, are planned for 2023, the statement said.

Volkswagen disclosed a $2.6 billion investment in Argo AI, the Pittsburgh-based self-driving startup, in June 2020. Ford has invested in the start-up as well.

The Austin-based electric vehicle company said the second-row left seat belt buckle and second-row center seat belt anchor may have been incorrectly reassembled during vehicle service.

Data showed record U.S. crude exports, a hopeful sign for demand. Speculation that central banks could be nearing the end of rate-hiking cycles added support, after the European Central bank raised rates by 75 basis points.

Commercial vehicle sales and financing have seen a resurgence following a pandemic-stirred slump, with improving loan repayments also leading to better asset quality for both bank and non-bank lenders.

The U.S. Department of Justice launched the previously undisclosed probe last year following more than a dozen crashes, some of them fatal, involving Tesla's driver assistance system Autopilot, which was activated during the accidents, the people said.

The factory will be closed for one week due to the ongoing problem with semiconductor shortages, Volvo said.